Chinese unicorn Genki Forest plots own beverage hits amid Nongfu Spring’s IPO frenzy
- Latest funding values Chinese drink unicorn at US$2 billion, triple its worth within nine months, according local media reports
- Company is building two new factories and aims to export to 100 countries, officials say in interview
Genki Forest, which produces an eponymous brand of sugar-free and low-calorie drinks, completed a July series of funding that pegged its valuation at US$2 billion, according to local media reports, treble its worth from a previous financing barely nine months earlier.
The Beijing-based company plans to use the fresh capital to build two new facilities to cater for markets in northern and southern provinces, said Gu Ya, its production and commerce director. Its first plant in Chuzhou city in eastern Anhui province, was completed this year and will be further expanded.
“Our goal is not to simply create a product that can earn profit, but a product that people want and like to drink,” he added. “Everyone, including capital market participants, recognises this and cares about this business philosophy the most.”
